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14 June, 10:08

Salad Daze maintains an inventory of produce worth $572.88. Its total bill for produce over the course of the year was $69,700. How old on average is the lettuce it serves its customers?

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  1. 14 June, 10:22
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    The answer is 3 days

    Explanation:

    The days' sales in inventory is the number of days it took a company to sell its inventories during a given period of time.

    The days sales in inventory tells how quick a company is moving its inventory.

    Longer days inventory means the company cannot convert its inventory into cash sooner and that it takes longer time.

    Days Sales in inventory:

    (Ending Inventory/cost of goods sold) x 365days

    Ending Inventory = $572.88

    cost of goods sold = $69,700

    ($572.88/$69,700) x 365 days

    = 0.008219 x 365

    =3 days
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